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200800934 ifnot paid in that millmer, Borrower shall pay them on time directly to the person owed payment. At the request of Lender, Borrower shall promptly furnish to Lender receipts evidencing the payments. Borrower shall promptly discharge any lien which has priority over tllis Security Instrument wlless Borrower: (a) agrees in writing to the payment of the obligation secured by the lien in a manner acceptable to Lender; (b) contests in good faith the lien by, or defends against enforcement of the lien in, legal proceedings which in the Lender's opinion operate to prevent the mlorcemmt of the lien; or (c) sa.;ures from the holder of the lien an agreement satisfactory to Lender subordinating the lien to tllis Security Instrument. If Lender determines tllat illlY part of the Prop(,rty is su~jectto a lien which may attain priority over this Security Instrument, Lender may give Borrower a notice identifying the lien. Borrower shall satisfy the lien or take one or more of the actions set forth above within 10 days of the giving of notice. Hazard or Property Insurance. Borrower shall keep the improvcm(''llts now existing or hereafter (''Tected on the Property insured against loss by fire, hazards included within the term "extended coverage" and any other hazards, including floods or flooding, for which Lender requires insurance. This insurance shall be maintained in the amounts illld for the periods that Lender requires. The insurance carrier providing the insurilllCe shall be chosen by Borrower subject to Lender's approval which shall not be wlfeasonably withheld. If Borrower fails to maintain coverage described above, Lender may, at Lender's option, obtain coverage to protect Lender's rights in the Property in accordance with section titled Protection of Lender's Rights in the Property. All insurance policies and renewals shall be acceptable to Lender and shall include a st<mdard mortgage clause. Lender shall have the right to hold the policies and renewals. If Lender requires, Borrower shall promptly give to Lender all receipt~ of paid premiums illld renewal notices. In the event of loss, Borrower shall give prompt notice to the insurance carrier <md Lender. Lender may make proof of loss if not made promptly by Borrower. Unless Lender illld Borrower otherwise agree in writing, insurance proceeds shall be applied to restoration or repair of the Property damaglXl, if the restoration or repair is economically feasible and Lender's security is not lessened. If the restoration or repair is not economically feasible or Lender's security would be lessenlXl, the insurance proceeds shall be applied to the sums seGwed by this Security Instnlment, whether or not then due, with any excess paid to Borrower. If Borrower abandons the Property, or does not answer within the number of days prescribed by Applicable Law as set fOrtIl in a notice from Lender to Borrow(,'T that the insurance carrier has offered to settle a claim, then Lmder may eollectthe insurance proeelXls. Lender may use the proceeds to repair or restore the Property or to pay sums secured by tllis Security Instrummt, whether or not then due. The period of time for Borrower to answer as set forth in tlle notice will begin when tlle notice is given. Unless Lender illld Borrower otherwise agree in writing, any application of proceeds to principal shall not extmd or postpone tlle due date of the payments referred to in tlle sections titled Payment of Principal and Interest; Late Charges and Funds for Taxes and Insurance or change the amount ofthe payments. If wlder the section titled Acceleration; Remedies, tlle Property is acquired by Lender, Borrower's right to any insurance policies and proceeds resulting from damage to the Property prior to tlle acquisition shall pass to Lender to the extent of the sums secured by tills Security Instrument immediately prior to tlle acquisition. Preservation, Maintenance and Protection of the Property; Borrower's Loan Application; Leaseholds. Borrower shall not destroy, damage or impair the Property, allow the Property to deteriorate, or commit waste on the Property. Borrower shall be in default ifany forfeiture action or proceeding, whether civil or criminal, is begwl that in Lender's good faith judgm(''I1t could result in forfeiture of the Property or othenvise materially impair the lien created by this Security Instrument or Lender's secwity interest. Borrower may cure such a default and reinstate, as provided in section titled Borrower's Right to Reinstate, by causing the action or proceeding to be dismissed with a ruling that, in Lmder's good faith determination, precludes forfeiture oftlle Borrower's interest in the Property or other material impairment of the lien created by this Security Instrument or Lender's security interest. Borrower shall also be in default if Borrower, during tlle loan application process, gave materially false or inaccurate information or statements to Lender (or failed to provide Lender witll any material information) in connection with the loan evidmeed by the Note. If this Security Instrument is on a leasehold, Borrower shall rJ 2004-2007 Copyrii~ht COTIlpliaIlce Systt::Il"lS, IUc. ~C9C.B99S. 2007.01.201 CUl1l,wner Real.E:illtate - Security Ir18trun~l.t DL2036 Pab'"e 3 ofH www.cumplillIwelIysteUl.:>,cOlI:! 800.968-8522. Fox 616.956.1868 ~Cft7 t}~